Thursday, 17 November 2016

Taurus Group’s Downtown Technopark to Come Up in Trivandrum

Introduction

According to a latest report, the reputed construction company Taurus Investments Holdings is coming up with a mega project, which is named as Downtown Technopark.  In all likelihood, the work is going to start by the beginning of 2017. The report further adds that this mega project will have will have grant design that takes care of the shortcomings of its predecessor Technopark. The real estate investor has reportedly started parleying with some of the current tenants or multinational companies, including four fortune 500 companies, working from the predecessor Technopark premises so that it can launch its new project with some of them on board. In this blog post, we will take the readers through the salient features of this new project.

down town technopark

Lease Agreement

The reported cost of this mega project from the Taurus Group is Rs. 1300 crore. The group is planning to set up the park by 2019. Currently, the builder is in the process of getting the necessary environment clearance from the government. Once it gets the final go ahead from the government, it will finish the design specifications for this upcoming project. According to reports, the builder expects to complete the formalities by the end of November or the beginning of December and will break the ground by December end or January first week. In addition to taking the necessary no objection certificate from the state government, the builder has also completed the formalities to take land from Technopark on lease so that it can build the state-of-the-art facilities for the new IT Park. The group is expected to demarcate the boundary after entering into the lease agreement with the Technopark management. In all likelihood, the lease agreement will come into force in November 2016.

lease agreement

Taurus Technopark

Taurus Group is planning to complete the 1300-crore project within two years. If everything goes well, the first office of the proposed park will start working by 2019. A Mumbai-based company by the name RSP Design Consultants has prepared the master plan and concept design for this mega project.  The group is very particular about the companies that it wants on board when it launches the first phase of the ambitious IT Park. Hence, it has approached some of the multinational companies, including four fortune 500 companies operating in Technopark, so that they can take possession of prime space in the new venture at the time of its launch.

taurus technopark

About Downtown Technopark

Taurus Group wants to develop this tech park as a world-class and mixed-use project. The new IT Park will have over 1,800, 000 Square Feet of Class A office spaces in three towers and a 750,000 Square Feet regional-scale shopping centre with multiple anchor tenants. This park will also have a retail mall, multiplexes, a convention centre, two hotels and other entertainment utilities. Hilton Group is going to run one of the hotels when the project goes full steam. This mega project is going to give direct employment opportunities to nearly 20,000 people when it becomes fully functional. In short, the project is going to contribute to the overall development of the region.

downtown technopark facilities

Thuruvananthapuram Technopark Rd, Technopark Campus, Thiruvananthapuram, Kerala 695581, India
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